Monday, 30 March 2015
Last updated 2 days ago
May 17 2012 | 1:01pm ET
Goldman Sachs' largest internal hedge fund is set to sell a chunk of its Facebook shares at a very tidy profit, indeed.
Goldman Sachs Investment Partners, the four-year-old equity hedge fund run within Goldman by former proprietary trading chief Ranaan Agus, will sell 1.57 million of the 3.61 million Facebook shares it bought, along with Goldman and its clients, last January. The bank is also set to participate in Facebook's initial public offering, which could value the company at more than $100 billion—twice the $50 billion Goldman valued it at a year ago.
GSIP's take-home from the IPO will be between $53.4 million and $59.6 million—more if the IPO's runners sell some of the additional 4.3 million shares Goldman has agreed to put up to meet demand.
Goldman's non-U.S. high net-worth clients, who bought the lion's share of the 65.9 million in Facebook shares the bank acquired in January 2011, are expected to sell about $800 million worth of their shares.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…